Bitcoin (BTC-USD) Price Analysis: Institutions Trigger $490M Sell-Off as BTC Marks 17 Years and Slips Below $110,000 Amid Liquidity Strain
Institutional Profit-Taking Drives a $490 Million Bitcoin Shakeout
After weeks of volatile trading, Bitcoin (BTC-USD) entered November on the defensive, trading near $109,820, roughly 13% below its early-October high of $126,080. The decline, marking Bitcoin’s first red October since 2018, was amplified by institutional repositioning and shifting macro expectations.
A coordinated sell-off of nearly $490 million in BTC holdings by institutional giants such as BlackRock, Fidelity, and ARK 21Shares sparked the correction. Market sources described the move as a mix of profit-taking and defensive reallocation, as fund managers sought to rebalance portfolios before year-end. The withdrawals were concentrated during U.S. trading hours, with automated algorithms amplifying the decline once prices breached key liquidity zones near $111,000.
While the sell-off initially rattled retail sentiment, on-chain data showed that long-term holders began reducing exposure around the $118,000–$122,000 range, suggesting a belief that Bitcoin may have temporarily peaked in its latest four-year cycle. Nonetheless, despite the volatility, institutional ownership remains near record highs, a sign that the move was tactical rather than a broader loss of confidence.
U.S. Treasury Endorsement of Singapore’s Crypto Framework Boosts Global Confidence
Amid the sell pressure, a major regulatory milestone emerged at the APEC Summit in South Korea, where U.S. Treasury Secretary Scott Bessent praised Singapore’s Prime Minister Lawrence Wong for his nation’s leadership in digital asset regulation. Singapore, now home to one of the most advanced crypto frameworks globally, has issued double the number of licenses in 2024 versus 2023, with nearly 25% of its 5.9 million citizens owning digital assets.
The U.S. endorsement marks a significant shift in tone from Washington, signaling an era of cooperative regulation rather than confrontation. Analysts view this as a potential catalyst for the next institutional adoption wave, giving credibility to regulated frameworks that support Bitcoin’s long-term valuation.
Venezuela’s Conexus Moves to Integrate Bitcoin and Stablecoins into National Banking
Adding to global momentum, Venezuela’s largest payment processor, Conexus, announced plans to integrate Bitcoin (BTC) and Tether (USDT) into its interbank infrastructure. The network, handling 40% of Venezuela’s electronic transactions, will enable crypto custody and blockchain-based settlements among domestic banks.
President Rodolfo Gasparri described the initiative as “an inevitable step” toward modernizing finance in an inflation-ravaged economy. This move aligns Venezuela with global institutions like JPMorgan and Morgan Stanley, both of which have expanded their crypto services.
For Bitcoin, the integration strengthens its role as a monetary hedge in hyperinflationary environments, while signaling a broader geopolitical shift toward crypto-backed payment systems in emerging economies.
BTC Turns 17: From White Paper to $2 Trillion Market Titan
October 31 marked 17 years since the publication of Satoshi Nakamoto’s white paper, “Bitcoin: A Peer-to-Peer Electronic Cash System.” From a nine-page document in 2008 to a $2 trillion market capitalization in 2025, Bitcoin remains one of the top eight global assets by value.
Despite the recent 3.7% monthly decline, Bitcoin’s long-term trajectory reflects extraordinary resilience. Market analysts describe the current phase as a controlled deleveraging cycle, designed to flush out speculative leverage while reinforcing healthy accumulation zones around $104,000–$108,000.
The cryptocurrency’s trading volume exceeded $105 billion daily in late October, underscoring liquidity strength even during corrections. Historically, post-anniversary consolidations have preceded renewed breakouts, suggesting a possible rebound setup heading into November’s first trading week.
Technical Outlook: BTC Consolidates Between $106,000 and $119,000 Ahead of Breakout
On the 4-hour chart, Bitcoin remains locked in a descending triangle, with resistance near $119,750 and support at $106,375. The 20-period EMA continues to suppress upside momentum, while Doji and spinning-top candles reveal market indecision.
The Relative Strength Index (RSI) hovers near 46, showing neutral momentum with an upward bias. Analysts view $111,675 as the immediate breakout trigger— a close above this level could unleash a rally toward $116,350 and $119,750, validating renewed bullish momentum. Conversely, a sustained break below $106,300 could extend the correction to $103,500 or even $100,250.
Liquidity Tightening and Fed Policy Shift Undermine ‘Uptober’ Momentum
October’s weakness—the first “Red Uptober” since 2018—coincided with growing fears of tightening global liquidity. The Federal Reserve’s decision to slow its quantitative tightening program initially boosted optimism, but Chair Jerome Powell’s remarks on October 29 dampened expectations of a third rate cut, sending risk assets lower.
At one point, BTC fell below $106,000, its lowest in four months, as traders digested Powell’s warning that “further cuts are not a foregone conclusion.” Analysts like Juan Leon of Bitwise cited a “convergence of macro shocks and fragile internal market structure” as primary drivers behind the downturn.
Data from CoinGlass confirmed that nearly $19 billion in leveraged long positions were liquidated through October, erasing speculative excess accumulated during Bitcoin’s run-up above $125,000. Despite the setback, BTC remains up 58% year-to-date, outperforming traditional risk assets like the Nasdaq 100 and S&P 500.
Bitcoin Hyper and Layer-2 Expansion Signal Technological Evolution
Even amid market turbulence, innovation continues. Bitcoin Hyper ($HYPER), a Layer-2 protocol built on the Solana Virtual Machine (SVM), aims to fuse Bitcoin’s security with Solana’s transaction speed. Priced at $0.013195 per token in its presale and already surpassing $25 million in raised capital, the project enables smart contracts, DeFi applications, and NFT creation directly secured by Bitcoin’s network.
The development underscores the broader evolution of Bitcoin beyond a store of value—toward a programmable ecosystem capable of competing with Ethereum-based networks. As scalability and transaction throughput become central to institutional adoption, hybrid models like Bitcoin Hyper could define the next phase of blockchain integration.
Market Sentiment: From Fear to Cautious Accumulation
The Crypto Fear & Greed Index dropped to 32, indicating mild fear following the institutional sell-off. However, funding rates and on-chain activity show renewed accumulation near $108,000–$110,000, particularly from corporate treasuries and ETFs. Bitcoin ETFs recorded $1.4 billion in inflows during the last week of October, even as prices declined, signaling that sophisticated investors continue to buy dips.
Meanwhile, long-term holders now control over 70% of circulating supply, a historical precursor to mid-cycle recovery rallies. Analysts believe the market’s base remains solid, provided Bitcoin defends support near $104,000 through early November.
Forecast and Strategic Outlook: Short-Term Volatility, Long-Term Strength
Technical and fundamental signals suggest that Bitcoin’s consolidation phase could resolve within weeks. If BTC breaks above $112,000, momentum could accelerate toward $120,000, reclaiming prior highs. A sustained move above $119,750 would reestablish bullish dominance, targeting $133,000–$140,000 before year-end.
Conversely, failure to hold above $106,000 could open the door for deeper corrections, but analysts view any pullback toward $100,000 as a strategic accumulation opportunity rather than a reversal. The combination of regulatory progress in Asia, Venezuela’s financial integration, and persistent ETF demand provides a robust foundation for renewed upside once liquidity conditions improve.
Verdict: Bitcoin (BTC-USD) — Buy on Dips as Institutional Flows and Global Integration Signal Strength
Despite October’s turbulence, Bitcoin’s structural uptrend remains intact. Institutional rotation, global regulatory alignment, and rising adoption continue to underpin the long-term thesis. The BTC-USD pair, now consolidating near $109,000, is likely in the final stages of correction before its next leg higher.
With inflation stabilizing, Fed rate uncertainty easing, and global adoption accelerating—from Singapore’s policy leadership to Venezuela’s banking integration—Bitcoin’s macro positioning remains powerful.
Rating: Buy on Dips (Target $133,000–$140,000, Stop below $103,500) — as the world’s first digital asset enters its 18th year, BTC continues to demonstrate that every shakeout is an invitation for stronger hands to step in
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